Understanding How a Bail Bond Works
Almost all of us have heard it before either in the news or in the movies; “(person’s name) has been released on a $10,000 bond.” But exactly what does this mean? What is a bail and is this different from a bail bond? It is a good idea to learn about this just in case you need it.
Basically, when someone is arrested for a crime, that person would be temporarily held in jail to await their court date, or a judge decides to let them go, or if they are released on bail.
What is a Bail?
A bail is a set amount of money paid by a person in jail (a defendant in court) as an insurance between the person and the court. Once paid the person is released from prison and is expected to appear in the next court hearing. Of course the defendant has the option to pay the bond in cash, but many cannot afford this.
Bail is usually set at a high amount in order to insure their cooperation with the court after being released. Most of the defendants cannot financially post this bail by themselves. In these cases, they can seek help from a bail agent or a bondsman, who can post a bail bond for the defendant.
What’s a Bail Bond?
A bail bond is actually a type of surety bond which can be provided by a surety company. The bail bond is provided through a bail agent or a bail bondsman who then secures the defendant’s release from jail.
There are two types of bail bonds available:
- Civil Bail Bond – This is used for civil cases and it guarantees the payment of debt, including the interest and costs assessed against the defendant.
- Criminal Bail Bond – This bond is used for criminal cases. This guarantees that the defendant will appear for trial on the dates set by the court. It also guarantees the payment of fines and penalties that are imposed on the defendant by the court as seen fit.
How Bail Bonds Work
The bail amount is set by the judge in charge of the defendant’s case. If the defendant is unable to pay the amount for the bail with their own money, then they have the option to seek help from a bail bondsman to obtain a bail bond.
In order to post a bail bond, the defendant would need to pay the bail bondsman a percentage of the bail amount; this is commonly set at 10% but it can differ depending on the situation.
The rest of the bail amount would be secured by the bail bondsman in the form of collaterals. If this also fails due to the defendant not having enough collateral, the bail bondsman can seek out relatives or friends who would be able to assist in covering the bail.
In most cases, additional cash payment along with full collateral is required by the bail bondsman in order to post bail.
What happens next would depend solely on the fact if the defendant appears in court or not after being released on bail.
- The defendant does not appear in court for hearing – in this case, the bail bond is forfeited. The court would require the remaining 90% of the entire bail amount to be paid. The bail bondsman would then secure the collateral items (properties, jewelry, stocks, or any other type of collateral) in order to pay the remaining bail amount to the court.
- The defendant appears in court – Once the case is concluded, the bail bond is dissolved. The collateral would be returned to the defendant or anyone who posted on his/her behalf. The bail bondsman would keep the initial 10% cash fee as profit for services rendered.
Here is an example scenario where a bail bond is used.
A person by the name of Mark is arrested. The judge sets bail at $50,000. Of course, Mark wants to be set free from jail but does not have that kind of money. He now seeks the help of a bail bondsman in order to post bail for him. In order to do so, the bail bondsman asks for $5,000 in order to post bail and release Mark from prison. Fortunately he has the cash and does so.
The remaining amount for the bail is secured by collateral. Mark and his family collect what they can in order to satisfy the required amount which can be anything from a car, a property such as a house, jewelry, stocks, etc.
Two scenarios can play out from here:
- For as long as Mark appears in all court dates, the bail bondsman would not require any other monetary payment. The bail bond is dissolved upon the conclusion of the case and Mark would receive the collateral back. The initial payment of $5,000 is kept by the bail bondsman for the service.
- However, if Mark does not appear in court, the bail bondsman would need to pay the entire amount of the bail. In order to do so, the bail bondsman would collect the collateral.
If Mark was able to post bail of $50,000 on his own in cash, he would be entitled to receiving the entire amount back after the case, regardless of the outcome.
How to get a Bail Bond
In order to get a San Luis Bail Bonds Ca, you can simply call us at ABC Bonding. We offer a no-cost consultation to help you every step of the way. We personally explain our products and services to you so you know exactly what you are getting even before you hang up the phone.
So if you are in need of a bail bond, just call (805) 544-1000 and we will make sure you get the best service possible.
Related Tag: Bail Bonds California